What is the digital rupee?
Let's understand what is the
digital rupee
:
1. The digital rupee is India's central bank
digital currency
, issued by the
RBI
.
2. It is a tokenised digital version of the
Indian rupee
, designed to complement physical cash and existing digital payment systems.
3. Banks provide the digital rupee app, where one can convert
INR
from linked bank accounts to digital rupees and start transacting using scan codes.
4. It uses distributed ledger technology to ensure security and transparency.
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5. Unlike bank deposits, holding digital rupees does not generate any interest.
Content courtesy Centre for Investment Education and Learning (CIEL).
Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.
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